Daily Forex Fundamentals – July 29, 2011

What’s on the Economic Horizon
Boehner Bill vote postponed
Canadian GDP to show 0.1% uptick for May
House prices in U.K. dipped by 0.1% this month?

U.S. Dollar (USD)

Is the U.S. dollar selloff over? The Greenback managed to score some wins against the Aussie, Loonie, and euro but lost a bit of ground against the Kiwi, Swissy, yen, and pound. Will we see more mixed results today or can the U.S. dollar find a clearer direction? Read more…

Euro (EUR)

It was just one of THOSE days for the euro. Once again, it came under selling pressure as weak economic data and European debt concerns bogged down the shared currency. While EUR/USD slid 65 pips, EUR/JPY fell 84 pips, finding support at the 111.00 handle. Read more…

British Pound (GBP)

You know what they say about outrunning a lion – you only gotta outrun the person next to you! And that’s exactly what the pound’s been doing! With everyone souring on the euro zone and the U.S., GBP/USD managed to edge 10 pips higher from its opening price to end the day at 1.6346. Read more…

Japanese Yen (JPY)

Thanks to risk aversion, the Japanese yen was able to chalk up gains against its major counterparts yesterday. USD/JPY opened at the 78.00 handle but ended at 77.77 while EUR/JPY slid from its 112.10 open to close at 111.26. Read more…

Canadian Dollar (CAD)

Make that back-to-back! For the second day in a row, the Loonie took a hit as a cloud of risk aversion continued to hang over the markets. Will we get a silver lining today? Read more…

Australian Dollar (AUD)

You can’t win ’em all, can you? The Aussie was forced to end its 7-day winning streak against the Greenback yesterday as AUD/USD closed 35 pips below its 1.1018 open price. AUD/JPY also chalked up a loss as it closed 60 pips below the 85.00 handle. Let’s take a look at the upcoming data to see whether the Aussie can rebound today. Read more…

New Zealand Dollar (NZD)

Oooohhhhh baby, it’s starting to look like the Kiwi has run out of steam! For the second day in a row, NZD/USD failed to sail higher, as it closed right at its opening price of .8692. Is this the top for the Kiwi? Read more…

Swiss Franc (CHF)

Looks like that .8000 handle is too much for the Swissy to break through! Once again, USD/CHF found good support at the major psychological handle and has now formed TWO dojis on daily chart at the level. Is this the bottom for the Swissy? Read more…

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